Argus lifts its price target on Estee Lauder (NYSE:EL) to $195 from $180. The PT is a Street high, according to Bloomberg.
"The company continues to benefit from strong demand for high-end beauty products, and about one-third of its brands are posting double-digit revenue growth," writes analyst John Staszak.
"We also like its mix of retail stores, e-commerce, and 'travel retail' sales at major airports, and its efforts to invest in developing the business. The company has also steadily raised its dividend, which currently yields about 1.1%," he adds.
Argus has a long-term Buy rating on Estee Lauder.
Shares of Estee Lauder are up 29% YTD.
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